Japan's Mitsui and Mitsubishi Experience Profit Surge in First Quarter

Thursday, 1 August 2024, 06:32

Japanese trading companies Mitsui and Mitsubishi have reported significant gains in their first-quarter net profits, largely due to successful asset sales and the influence of a weaker yen. Mitsui's net profit increased by 9.2% to 276.1 billion yen, while Mitsubishi saw a 12% rise to 354.4 billion yen, surpassing analyst forecasts. The profit boosts were attributed to the sale of metallurgical coal mines by Mitsubishi and machinery and infrastructure assets by Mitsui. This trend highlights the companies' strategic asset management amid fluctuating market conditions.
Yahoo Finance
Japan's Mitsui and Mitsubishi Experience Profit Surge in First Quarter

Profit Increases for Mitsui and Mitsubishi

In a remarkable financial update, Japanese trading houses Mitsui and Mitsubishi have both reported impressive increases in their first-quarter net profits.

Mitsui's Performance

  • Net profit increase: 9.2%
  • Current net profit: 276.1 billion yen

Mitsubishi's Success

  • Net profit increase: 12%
  • Current net profit: 354.4 billion yen
  • Beating forecasts: Surpassed estimates from an LSEG poll of analysts by 3% and 22%, respectively.

Key Contributions to Profit Growth

  1. Mitsubishi: Sale of metallurgical coal mines contributed significantly to profit.
  2. Mitsui: Profit growth driven by sales of machinery and infrastructure assets.

The reported increases in profits for both Mitsui and Mitsubishi showcase their effective asset management strategies amidst challenging market conditions, suggesting continued strength in their operations moving forward.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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